The latest in a string of global companies suspending business operations in Russia has been increased. Honda Motor Company is halting it’s exports of cars and motorcycles for the Russian market.
Honda came to the decision due to the challenges in distribution and finances. A spokeswoman from Honda, mentioned that shipments will only be resumed once the situation returns to normal.
NHK (Japan Broadcasting Corporation) reported earlier on Honda’s decision, citing the brands issues with distribution networks due to the war. Honda also has concerns over its ability to collect and settle payments due to the sanctions placed on Russia.
Even though Honda doesn’t have a factory in Russia, the brand exports around 1,500 SUV’s annually from production plants in the United Kingdom.